Bitcoin ETF Only Possible if Price Breaks $150K, Tom Lee Says

Bitcoin ETF Only Possible if Price Breaks $150K, Tom Lee Says

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23. October 2019. by adminBTC
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Bitcoin’s worth needs to be about $150,000 to be liquid sufficient for a associated exchange-traded fund (ETF), Fundstrat’s Tom Lee stated in an interview with BLOCKTV. Bitcoin ETF is Years Away A Bitcoin ETF is a number of years away from now, in accordance with Thomas Lee, co-founder of market analysis agency Fundstrat. Opposite to
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Bitcoin’s worth needs to be about $150,000 to be liquid sufficient for a associated exchange-traded fund (ETF), Fundstrat’s Tom Lee stated in an interview with BLOCKTV.


Bitcoin ETF is Years Away

A Bitcoin ETF is a number of years away from now, in accordance with Thomas Lee, co-founder of market analysis agency Fundstrat.

Opposite to fashionable perception that the US Securities and Exchanges Fee (SEC) is impeding the nice progress of the cryptocurrency market, Lee truly praised the regulator for its means to regulate the rising house and defend institutional and retail traders from potential scams.

In line with Fundstrat’s head of analysis, establishments are attracted by a market that’s correctly regulated. Thus, the SEC is definitely doing a favor. However, the US regulator might need harmed the business by going sluggish.

A very powerful achievement that may make Bitcoin enticing for establishments is the creation of an ETF, Lee says. Nonetheless, he doesn’t suppose the SEC will approve a BTC-related fund anytime quickly. One of many the reason why the regulator is hesitant is the Bitcoin market measurement. Presently, the market cap of the oldest digital foreign money is below $150 billion.

Lee estimated that the biggest cryptocurrency by market cap needs to be priced at a minimum of $150,000 to be liquid sufficient to again an ETF.

An ETF is more likely to generate near 13 billion {dollars} of demand the primary 12 months, and that’s an enormous demand imbalance to accessible provide

SEC Doesn’t Step Again on its Stance

The SEC appears very decided to maintain Bitcoin ETFs away from US traders for now. Earlier this month, we reported that the US monetary watchdog rejected a Bitcoin ETF proposed by Bitwise Asset Administration. Curiously sufficient, Bitwise government expressed hopes that the SEC would lastly approve the itemizing, which was not the case.

However, ETF suppliers aren’t discouraged. Asset supervisor Kryptoin Funding Advisors has not too long ago filed an utility with the SEC to create a BTC ETF that will monitor the CME CF Bitcoin Reference Fee. The agency is assisted by the ex managing director of the World Gold Council.

When do you suppose we’ll see Bitcoin fluctuating at round $150,000? Share your expectations within the feedback part! 


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